Sunseeker Properties UK

Flag of USA

Legal Information for purchasing a property in USA:

The purchase procedure: Once you have selected the subdivision, plot, and model of the home, options and colours. The next step is to sign the contract and provide:
	An initial deposit of up to $5000.00
	For a Cash purchase: 20% should be paid within 30 days when signing contract and the remaining on closing.
	Provide photocopies of passports.
The furniture choice is done simultaneously when colours are chosen. If it is a Spec home, we will harmonize the furnishings to correspond with the colours of the home or you can select yourself if you are out in the country. Guidance will be given to you at this stage. If you want a say and are not in the country we can arrange for you to get in touch with the wholesalers over the internet. If you are buying a house from plans we will keep you updated about the progress of the building work of your new investment and home. A professional preservation manager will walk the home on your behalf prior of closing and a full check will be made to ensure complete quality is complied with. This happens on all purchases of homes through our company. Any problems discovered at this point will be shown to the builder and resolved. Transferring all the funds from your native account into a U.S. bank account is needed to be completed (if you do not have a US bank account our company can open one on your behalf if the buyer will like us to) before the closing date. If you are not attending the closing Sunseekers will send all the legal documents for you in the UK. Sunseekers will take complete control of the connection of utilities for your new property. Then we will provide a monthly report (30 days later) showing income and expenses. If you have to obtain a mortgage: You ought to fill in a mortgage application within 30 days and present documentation, this will depend on the sum of mortgage required. i.e. 80% is a full documentation When a mortgage of 70% or less is required then a non-verification mortgage can be demanded. When the house is ready the following is crucial:
	The buyer needs to provide two years of employment history (if this is not unfeasible, you should supply documentation to confirm earlier employment and earnings).
	Also needed is a letter from your current employer showing position, date started, 2 years of earnings, and year to date earnings. If you are self-employed, a letter from your accountant showing your salary for 3 years. If employed you also need to provides with your P60's for the last 2 years and latest pay slips within 30 days. A mortgage payment history is also needed as part of the documentation (a landlord can is acceptable if applicable).
	Copies of current passports.
	A copy of an up to date bank statement showing sufficient money to seal the home plus 6 month payment as a reserve in the bank.
	Once a U.S bank account has been opened a deposit of 6 months reserve has to be transferred into this account prior to completion date.
Closing the deal: When the mortgage is approved and the house is ready, the builder and Sunseekers will inform you of the closing date giving the buyer at least seven days notice. Sunseekers will then send you the closing documents. You will need to set up an appointment with a notary in whose presence the documents are signed, and ID produced. You must attend with ID (Passport preferred). At this point the closing funds will need to be wired. Once everything is signed and documented the closing is complete. We will send out documents relating to permits etc. for you to sign & return. The keys are then handed over to the buyer.

Back to Legal Information Main Page